The stock of Medtronic plc (NYSE:MDT) last traded at $89.33, up 0.35% from the previous session.
Data from the available sources indicates that Medtronic plc (NYSE:MDT) is covered by 30 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $104.00 and a low of $79.00, we find $89.00. Given the previous closing price of $89.02, this indicates a potential downside of -0.02 percent. MDT stock price is now 6.61% away from the 50-day moving average and 6.54% away from the 200-day moving average. The market capitalization of the company currently stands at $118.43B.
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In total, 14 analysts have assigned it a hold rating, and 9 have given it a buy rating. Brokers who have rated the stock have averaged $89.90 as their price target over the next twelve months.
In other news, Medtronic plc, 10% Owner bought 6,835 shares of the company’s stock on Jan 30. The stock was bought for $63,436 at an average price of $9.28. Upon completion of the transaction, the 10% Owner now directly owns 4,999,423 shares in the company, valued at $446.6 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 13, EVP & President Cardiovascular Salmon Sean sold 16,631 shares of the business’s stock. A total of $1,338,736 was realized by selling the stock at an average price of $80.50. This leaves the insider owning 36,088 shares of the company worth $3.22 million. Insiders disposed of 122,722 shares of company stock worth roughly $10.96 million over the past 1 year. A total of 0.09% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MDT stock. A new stake in Medtronic plc shares was purchased by CULLEN CAPITAL MANAGEMENT, LLC during the first quarter worth $269,676,000. PZENA INVESTMENT MANAGEMENT LLC invested $104,825,000 in shares of MDT during the first quarter. In the first quarter, MACKENZIE FINANCIAL CORP acquired a new stake in Medtronic plc valued at approximately $34,819,000. LA BANQUE POSTALE ASSET MANAGEMENT SA acquired a new stake in MDT for approximately $31,847,000. MINNEAPOLIS PORTFOLIO MANAGEMENT GROUP, LLC purchased a new stake in MDT valued at around $29,465,000 in the second quarter. In total, there are 2,714 active investors with 84.60% ownership of the company’s stock.
With an opening price of $89.19 on Friday morning, Medtronic plc (NYSE: MDT) set off the trading day. During the past 12 months, Medtronic plc has had a low of $75.76 and a high of $106.06. As of last week, the company has a debt-to-equity ratio of 0.55, a current ratio of 1.80, and a quick ratio of 1.40. According to the stock market information, the enterprise value for the company is $136.81B, which is based on a 29.37 price-to-earnings ratio, a 28.15 price-to-earnings-growth ratio, and a beta of 0.72. The fifty day moving average price for MDT is $84.02 and a two-hundred day moving average price translates $83.82 for the stock.
The latest earnings results from Medtronic plc (NYSE: MDT) was released for Jan, 2023. According to the Medical Devices Company, earnings per share came in at $1.3, beating analysts’ expectations of $1.27 by 0.03. This compares to $1.10 EPS in the same period last year. The net profit margin was 13.20% and return on equity was 7.80% for MDT. The company reported revenue of $7.73 billion for the quarter, compared to $7.76 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.46 percent. For the current quarter, analysts expect MDT to generate $8.25B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/14/2023. Investors who held shares on 03/24/2023 were paid a $0.68 dividend. On an annualized basis, this represents a $2.72 dividend and a 3.04% percent yield. There was an ex-dividend date of 03/23/2023 for this dividend. In terms of dividend payout ratio, MDT is presently at 87.50%.
Medtronic plc(MDT) Company Profile
Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software. It also provides aortic valves, surgical valve replacement and repair products, endovascular stent grafts and accessories, and transcatheter pulmonary valves; and percutaneous coronary intervention products, percutaneous angioplasty balloons, and products. The company’s Medical Surgical Portfolio segment offers surgical stapling devices, vessel sealing instruments, wound closure, electrosurgery products, surgical artificial intelligence and robotic-assisted surgery products, hernia mechanical devices, mesh implants, gynecology and lung products, and various therapies to treat diseases, as well as products in the fields of minimally invasive gastrointestinal and hepatologic diagnostics and therapies, patient monitoring, airway management and ventilation therapies, and renal disease. Its Neuroscience Portfolio segment offers products for spinal surgeons; neurosurgeons; neurologists; pain management specialists; anesthesiologists; orthopedic surgeons; urologists; urogynecologists; interventional radiologists; ear, nose, and throat specialists; and systems that incorporate energy surgical instruments. It also provides image-guided surgery and intra-operative imaging systems and robotic guidance systems used in robot assisted spine procedures; and therapies for vasculature in and around the brain. The company’s Diabetes Operating Unit segment offers insulin pumps and consumables, continuous glucose monitoring systems, smart insulin pen systems, and consumables and supplies. The company was founded in 1949 and is headquartered in Dublin, Ireland.
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